Russia's economy corresponds to soft landing - Central Bank Deputy Governor Zabotkin

ST. PETERSBURG. June 30 (Interfax) - The situation in Russia's economy corresponds to a so-called soft landing, with the scenario assuming the continuation of growth rates at this and the next year, Central Bank of Russia Deputy Governor Alexei Zabotkin said.

"We believe that the situation is developing amid a soft slowdown and the forecast, assuming a positive GDP growth this year and next year," Zabotkin told reporters on the sidelines of the Bank of Russia Summer School conference.

Zabotkin also said that inflation expectations and the state of the labor market are currently causing concern.

"The point remains that inflation expectations are falling more reluctantly than we would like to see with the slowdown in inflation that is already being observed, as you could judge from the summary of the discussion [of key rates] in June. Secondly, there are no comprehensive data yet that the degree of tightness in the labor market for employers is significantly decreasing," Zabotkin said.